EdgeVerve Systems, a subsidiary of Bangalore-based Infosys, one of India’s largest financial software developers, unveiled today their EdgeVerve Blockchain Framework (EBF) at the Infosys Confluence global client summit in San Francisco.
EBF is a permissioned blockchain system that is geared towards the financial system, where scalability and security are of of paramount importance.
The release states:
“Designed specifically for the banking sector, it can scale to the levels needed to support international, cross-border transactional business.”
According to the press release, the EdgeVerve Blockchain Framework offers better security and more cost-effective solutions, when compared to other distributed ledger systems in the financial industry today. EdgeVerge Systems also states that EBF is “asset agnostic” which means that any kind of digital asset can be launched, not just securities. The EdgeVerve API layer also allows banks to build blockchain networks that can scale to handle transactional loads on a global scale.
EdgeVerge Systems currently provides financial solutions that are used by banking clients in over 92 countries. The release states that the company is currently collaborating with several financial institutions to find uses cases for blockchain technology in different sectors of the financial industry, “Several of the world’s leading financial institutions are already collaborating with us to build blockchain powered banking applications and networks.” said Andy Dey, President of Customer & Operations at EdgeVerge Systems.
Dey believes that blockchains will transform the existing financial system and explained that EdgeVerve is forming strategic partnerships to position itself as a leader in the rapidly-growing blockchain space:
“At EdgeVerve, we are making significant investments in this space that includes our research facility in Ireland and important financial industry partnerships.”
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